Cairo – Mubasher: Egypt’s leading investment bank EFG-Hermes Holding said Monday it has been cleared by shareholders to distribute bonus shares at 1.460-for-10 for the fiscal year 2014.

The bonus share distribution will be financed from FY14 profits, the company added.

The company’s ordinary general meeting also gave a nod to transferring EGP 391.8 million from profits to the capital increase.

Meanwhile, the extraordinary general meeting was not held due to lack of quorum. It was scheduled to discuss increasing issued capital by EGP 391.8 million to EGP 3.3 billion from EGP 2.867 billion.

EFG-Hermes previously reported EGP 706.98 million in consolidated net profits for FY14, against EGP 334.98 million in net loss a year earlier.